Wall Street rises on trade war truce; industrials lead
22 May, 2018, 09:43 | Author: Martin Tyler
Commerce Secretary Wilbur Ross planned to go to China, Mnuchin and Kudlow said.
Wheat bound for overseas pours into the holds of a ship at the Port of Portland. In a joint statement released by the White House, China said it agreed to "meaningful increases in USA agriculture and energy exports" with details to be worked out later.
China promised to "substantially reduce the United States trade deficit in goods with China": The US runs a $375 billion annual goods trade deficit with China, its largest such imbalance with any country.
China's state-run news agency Xinhua quoted Vice Premier Liu He, who led Chinese negotiators in trade talks in Washington, as saying, "The two sides reached a consensus, will not fight a trade war, and will stop increasing tariffs on each other".
Philip Levy, senior fellow on the global economy at the Chicago Council on Global Affairs, tells VOA that while the US and China have for now avoided a tariff war, the outcome of the trade talks remains unclear.
President Donald Trump on Monday touted the outlines of an agreement between the U.S. and China to reduce trade tensions between the two countries, painting the agreement as a major win for the US.
Trump tweeted Monday: "China has agreed to buy massive amounts of ADDITIONAL Farm/Agricultural Products - would be one of the best things to happen to our farmers in many years!" He said the agreement could result in doubling sales of US energy products, which Mnuchin said could mean an increase in sales of USA energy products by $50 billion to $60 billion over the next three to five years.
"They failed to drill down on the biggest frictions facing USA businesses and on those where we are most able to move the Chinese", said Mary Lovely, a Syracuse University economist who specializes in trade.
Xi Jinping's government did not, however, commit to reducing its trade surplus with the U.S.by any set figure, or to take any specific action to address America's complaints about its intellectual property practices.
Analysts said the talks may have helped to ease tensions at least slightly between the world's two biggest economic powers.
In a statement Saturday, the two countries made no mention of those underlying American complaints. Beijing said that it agreed to significantly increase its purchases of American goods and services, including energy and agricultural commodities. The U.S. said it would send a team to China to work out the details.
If China were to fill every drop of uncontracted LNG with US gas, that would amount to about $20 billion a year in purchases by 2030. But neither LNG nor ethanol, which also stands to benefit from a trade truce, would provide a big enough export boost reduce the deficit by $200 billion a year, according to Height. He will plant the crop across about 400 acres in about three weeks, hoping that China resumes US imports soon after ending its anti-dumping probe.
Aaron continued his ugly tirade by saying, "I paid for my welfare, I pay for their ability to live here. He appears to drop his papers in the rush and looks up briefly, as depicted in the above screenshot.
Netanyahu described Erdogan as "an expert on terror and slaughter" as a leading supporter of Palestinian Islamist group Hamas. We are talking about. those who have been caught red-handed bearing weapons, those who have been killing people.
Mr Putin's spokesman said Mr Assad had chose to "send a delegation to the UN" to discuss reforming the country's constitution. He also visited Putin in Moscow in October 2015, soon after Russian Federation launched its military operation in Syria .
Next up, it's Mercedes who have overcome a slow start to the season to be frontrunners in the constructor's championship. Such was the pace of Hamilton in clean air ahead that by the 15th lap, he had already opened a 6.4-second gap on Vettel.
The company has a market capitalization of $250.38 billion, a PE ratio of 19.26, a P/E/G ratio of 2.92 and a beta of 0.54. Baird set a $110.00 price target on Walmart and gave the stock a "buy" rating in a report on Tuesday, January 2nd.
The bloc's budget rules require it to cut the debt pile aggressively under the "fiscal compact", which both parties want scrapped. Di Maio's 5-Star Movement is Parliament's single biggest party, after winning some 32 percent in the March 4 election .
He also accused Maduro's government of rationing food parcels "selectively" to manipulate hungry citizens' votes. It has also limited transactions involving Venezuelan bonds and the country's new cryptocurrency.
After decades without any clear LGBTQ representation , Solo: A Star Wars Story is hinting that Lando Calrissian is pansexual . This certainly makes us think that Lando is a fan of one of the GFFA's most risky sports: podracing.
Curry says mom scolded him for Game 3 obscenity
The Warriors always make their big run in the third quarter, and the Rockets had no answer for it on Sunday night. We started off the game pretty solid, and then we let them gain some confidence to end the first quarter.
Dutch Museums Publish 2 Hidden Pages from Anne Frank's Diary
A spokeswoman from the Anne Frank House said the newly discovered text would be available only in Dutch. "Papa has been there". It's believed that the gags were written about three months after her family went into hiding inside the Dutch house.